DigitalBridge Group Inc has announced the acquisition of Hong Kong based PCCW’s data centre business for $750 million, covering a number of sites in Hong Kong, China and Malaysia.
PCCW, the Hong Kong telecommunications, media and technology conglomerate has been exploring a sale of its data centre assets for several months. It is one of the region’s leading colocation operators serving global hyperscale and enterprise companies across its network of facilities.
“As an experienced investor in the global data center sector, DigitalBridge’s expertise investing in, building, and operating data centers to the highest standards aligns perfectly with PCCW DC’s next stage of development,” said Marc Ganzi, President and CEO of DigitalBridge. “They are already a leading operator in the region and are poised for significant growth, with a strong development pipeline and considerable expansion capacity. This is a terrific platform for DigitalBridge to expand its regional presence while supporting a strong management team focused on serving many of the same hyperscale and large enterprise customers that DigitalBridge works with on a global basis.”
The transaction, which remains subject to customary closing conditions, is expected to close during the fourth quarter of 2021.